Six reasons to have a property inventory
As a landlord, providing a quality home, adhering to safety regulations and government legislation is standard. But to protect your own investment it’s a good idea to create a property inventory. Here are a few reasons why.
When you receive a deposit, you do so in the hope that it will be kept aside to cover any issues such as theft or accidental damage to your items. By creating an inventory when the tenant moves in, you can be assured that everything listed is protected. Some choose to make a written inventory, whereas other landlords use property inventory software, such as that found at Inventory Base alongside photographs for reference.
Giving deposits back is straightforward. But what about cleaning disputes? We all have different standards of cleanliness, but by recording the condition of carpets, painting, etc., before a tenant moves in you can use this should any disputes arise. Again, the dispute process can be made simpler by using dedicated property inventory software which keeps the information safe until it is needed.
No need to rely on memory
The major bonus of using a property inventory is that you don’t have to rely on your recollection skills when a tenant moves out. After all, a tenant may well live in your home for several years before moving out. Not even the best minds in the world can remember every aspect of a home after that long.
Tenants expect one
Not only this, but tenants are now expecting to move into a property with an inventory in place. If you choose not to do one, you could risk coming across as unprofessional. From a legal point of view, having no inventory at the beginning of the tenancy can cause a small claims case to be thrown out so caution should be exercised if you progress without one.
Encouraging good behaviour
It’s all about encouraging good behaviour. If you treat the property and its contents with respect, your tenant is more likely to as well. That means creating an inventory using photos and text or an all-encompassing piece of Property Inventory Software for best results and timely records.
Peace of mind
With an inventory in the bag, you can just sit back and relax and deal with general property maintenance.